WHAT A DIFFERENCE THE FX RATE MAKES!
The recent fall of the Euro means that if you are thinking of purchasing a property in France, and you’re buying in £, US$ or CHF… then you just won, big time!
You’re in the UK? SAVE £90 484!
The Exchange Rate is VASTLY better for you than it’s been since 2007. If you had wanted to buy this perfect Cannes Rental Apartment in 2008, it would have cost you as much as £418 095. Today the same apartment at the same Euro price will cost you £327 611.
You’re in South Africa? MAAK ‘N PLAN!
It’s a pity you didn’t buy before the ZAR slipped (I wouldn’t bet against it slipping again, would you?).
If you had wanted to buy that apartment in 2010/11 it would have cost you about R 4 170 000. Today that same apartment, at the same Euro price will cost you R 5 720 000. That’s not a reason NOT to buy – it’s a reason TO BUY! The Rand has rallied since its’ low of 15.44 in 2014, to 13.03 today – bets are off as to what it will do tomorrow.
You’re in the USA? SAVE US$ 202 000!
The € fell to an 11 year low of 1.13 against the US$ last Friday. A strong $ in 2015 is predicted by Andrew Wilson, CEO of Goldman Sachs. US growth is forecast to be 3.5% in 2015. Unemployment is as low as 5.6% – low enough to make Europeans want to weep! If you had wanted to buy that apartment in 2008 with a weak $, it would have cost you about US$ 698 000. Today, the same apartment at the same Euro price will cost you US$ 496 000.
You’re in Switzerland? SAVE CHF 276 000!
… or at least your money is. It’s even MORE dramatic.
If you had wanted to buy that apartment in 2007/8, it would have cost you about CHF 737 000.
In 2011/12/13/14 it would have cost you about CHF 535 000. Today the same apartment at the same Euro price will cost you CHF 461 000. Fantastic news for you!
For FX Advice…
* Our preferred Foreign Exchange partners are able to fix rates forward for up to 1 year. If you would like them to contact you directly for a chat about what is possible, please drop me a line on cannes@fineandcountry.com and I will get them to call you.